February 05, 2016
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IOWA MILITARY RETIREMENT INCOME EXCLUSIONS
... The Iowa Department of Revenue has determined that some retired Iowa veterans may have inadvertently included military retirement income as taxable income in their 2014 tax returns and are possibly eligible for a refund of tax paid incorrectly. Military retirement benefits are excluded from Iowa individual income tax beginning with the 2014 tax year. Veterans who included military retirement pay in their federal adjusted gross income may deduct it from Iowa income for state income tax purposes. The exclusion also applies to military survivor benefits received under U.S.C. 1448.The Iowa Department of Revenue mailed a letter to the veterans and families that they have determined may be eligible for a state income tax refund for 2014 tax. If veterans have questions, they can stop by their local County VA Office for a copy of the letter and provide it to their tax preparer.